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Punjab National Bank faces Rs 8.59 lakh in penalties from the Reserve Bank of India for operational guideline lapses

14-Oct-26   21:47 Hrs IST

Punjab National Bank (PNB) has disclosed penalties imposed by the Reserve Bank of India for non-compliance with operational guidelines of Currency Chests. The bank received penalty notices on September 9, 2026, and September 11, 2026, totaling Rs 2,91,750 on September 9, and Rs 1,33,800, Rs 1,34,600, and Rs 2,99,600 on September 11, bringing the total penalty amount to Rs 8,59,150. PNB stated the impact is limited to the monetary value of the penalties, which were directly debited from the bank's RBI account, and is working to improve reporting systems for more timely identification of such deductions.

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